“Amazon.com Inc. (AMZN) is gaining too much control in the publishing industry with its purchase of Goodreads Inc., a social network for readers and a competitor in online book reviews, an authors’ group says,” Dan Hart and Danielle Kucera report for Businessweek.
“Goodreads, which allows users to add titles to virtual bookshelves and track what friends are reading, has 16 million members who have written more than 23 million reviews, Amazon said in a March 28 statement. The company said the deal will probably close in the second quarter and didn’t provide terms,” Hart and Kucera report. “The site had potential to become an Internet bookseller to compete with Amazon, the largest online retailer, Scott Turow, president of the Authors Guild, said in an online post March 29.”
Hart and Kucera report, “‘Recommendations from like-minded readers appear to be the Holy Grail of online book marketing,’ said Turow, whose legal thrillers include The Burden of Proof and Presumed Innocent. ‘By combining Goodreads’ recommendation database with Amazon’s own vast databases of readers’ purchase histories, Amazon’s control of online bookselling approaches the insurmountable.'”
Read more in the full article here.
[Thanks to MacDailyNews Reader “Bookr” for the heads up.]